After the yearly ritual of
listening to and reading the budget discussions, two things are clear. India
has the maximum supply of opinion contributors on ever matter of national
importance and budget is wrongly conceived as a magical wand that would solve
all the economic imbalances and help in achieving the economic objectives . The
principles of economics has taught that, a coordinated combination of
fiscal , monetary and
economic policy alone can
achieve the economic goals of a
nation . The Finance Minister who excels in the art of creating a right mixture of
these policies alone will succeed in
achieving the economic agenda of a government . But after observing the budget
matters for decades together one message is clear ie., all the governments which have ruled India so far , are united in
neglecting or giving low priority
to the social sectors . Why do our
rulers fail to recognize the important role played by education , skill training and health
promotion in Human Resource Development and Human Capital Formation especially, when we are right now , in a position
to reap the demographic dividend ? Year
after year the Indian Budgets allocate very pathetic resources to the
social sector in comparison with other emerging economies. This attitude of the
budget makers is very mysterious .
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